LANCASTER, Pa., Dec. 14, 2010 /PRNewswire/ -- Herley Industries, Inc. (Nasdaq: HRLY) announced today that its Herley Lancaster division has received an award valued at approximately $1.3 million from a major U.S. defense contractor. The Lancaster, PA, division will manufacture complex microwave hardware for an electronic attack aircraft for the U.S. Navy.
Howard Eckstein, Senior VP for the Company and President of Herley Lancaster commented, "This contract is for the production of frequency up converters for delivery over the next year. We specialize in this type of complex microwave hardware at Herley Lancaster and anticipate significant follow-on contracts in the years to come."
Herley CEO and President, Richard Poirier, commented "We are proud to have supported this customer and program for many years with various products produced at three of our domestic locations. Herley Lancaster has a well-deserved reputation for consistently producing the high quality products and specialized microwave technology necessary to meet our customers' requirements."
Herley Industries, Inc. is a leader in the design, development and manufacture of microwave technology solutions for the defense, aerospace and medical industries worldwide. Based in Lancaster, PA, Herley has seven manufacturing locations and approximately 1000 employees. Additional information about the company can be found on the Internet at www.herley.com.
For information at Herley contact:
Tel: (717) 397-2777
Safe Harbor Statement - Except for the historical information contained herein, this release may contain forward-looking statements. Such statements are inherently subject to risks and uncertainties. Forward-looking statements involve various important assumptions, risks, uncertainties and other factors which could cause our actual results to differ materially from those expressed in such forward-looking statements. Forward-looking statements in this discussion can be identified by words such as "anticipate," "believe," "could," "estimate," "expect," "plan," "intend," "may," "should" or the negative of these terms or similar expressions. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, performance or achievement. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors including but not limited to, competitive factors and pricing pressures, changes in legal and regulatory requirements, cancellation or deferral of customer orders, technological change or difficulties, difficulties in the timely development of new products, difficulties in manufacturing, commercialization and trade difficulties and current economic conditions, including the potential for significant changes in US defense spending under the current Administration which could affect future funding of programs and allocations within the budget to various programs as well as the factors set forth in this report and in our public filings with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Herley Industries, Inc.